Signing an apartment lease is an exciting time for the first time renter. Many people, especially those moving out on their own for the first time, jump into a lease agreement without fully understanding what it is they are agreeing to when they sign their names. Understanding the components of a lease agreement is the first step to being a responsible renter.Terms of the LeaseThe terms of the lease agreement include the monthly rental amount and the time line for when each payment is due. When you receive a copy of the lease agreement it is very important to understand the grace period if one is provided in the terms of the apartment lease. Many apartment complexes are very strict about these defined due dates. At best a late payment will result in a late fee, but at worse it can mean an